Euro strength and directly related Dollar weakness has affected the Eurozone’s biggest exporter. Germany has posted a drop of 43% in the country’s surplus as exports become more expensive and imports priced in weaker currencies are more attractive to German Consumers.
Germany exported 8.1bn euros (£7.45bn;$11.95bn) more goods than it imported in August, down from 14.1bn euros in July.
The fall in exports was the first for four months and had not been expected.
Exports were down 20% compared with the same month of 2008 while imports were 19.3% lower.
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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